Stockport born billionaire in Sunday Times Rich List

Born in Stockport in social housing on a council estate, clothing entrepreneur Philip Day has been included in the annual Sunday Times Rich List of billionaires.

Mr Day, 52, whose brands include Edinburgh Woollen Mill, Austin Reed, Country Casuals and Peacock, opened the first of his Days Department store in Carmarthen last year, which he reportedly intends to build to a chain of 50.

Now worth a reported £1.2bn, Mr Day decided against a university education to go straight into business. His parents found it difficult to find jobs locally, and that’s what originally inspired him to go into business — to generate jobs! Philip held down a number of part-time jobs while at school, including running a newsagent’s and doing several newspaper delivery rounds per day locally.

In 2001, he joined Edinburgh Woollen Mill and led a buyout of the company.

He later bought home furnishing company Ponden Mill and soft furnishings company Rosebys, golfing brand ProQuip, women’s fashion retailer Jane Norman and British fashion brand Jaeger.

Day, 52, is now based in Dubai where he watched his wealth rocket by £50m over the last year.

You will need £115m to be included in this year’s Rich List compared to £30m in 1989.

The Sunday Times Rich List charts the wealth of the 1,000 richest people in the UK based on identifiable wealth, for example – property, some investments, race horses – but excludes personal bank accounts.

Did you know?

– The Richest 1 % of the world’s population now owns more than 50% of the world’s wealth!*
– The overall wealth of the richest 1000 is £724 billion
– This year’s Sunday Times Rich List includes 145 billionaires, an increase of 11 on the previous record

Billionaires in the Sunday Times Rich List from across the North West

Worth £15.3 billion, the number one on the Sunday Times Rich list – Jim Ratcliffe of chemicals giant Ineos – was born in 1952 and brought up in Failsworth, Greater Manchester. Also listed and coming from the North West region are:

10. The Duke of Westminster and the Grosvenor family – £9.964bn
61. John Whittaker & Family (property) – £2.25bn
102. Fred and Peter Done (gambling giant BetFred) – £1.35bn
115. Philip Day (fashion) £1.2bn
126. Brothers Mohsin & Zuber Issa (Euro Garages) – £1.1bn
=134. Henry Moser & Family (mortgage lender Together – Jerrold Holdings) – £1.01b
=136. Mahmud Kamani & Family (Internet retailer Boohoo) – £1bn